A girl needs cash

date May 22, 2007
authors Joan Perry
reading time 3 mins
  • Book Title: A Girl Needs Cash - Banish the white knight myth and Take Charge of your Financial Life
  • Author:Joan Perry with Dolores Barclays
  • Year written/published: 1997
  • Some extracts:

3 guideposts to financial successes:

  1. spend less than you earn
  2. invest the difference
  3. reinvest all your returns for compound growth until you have a pot of invested money that generates the income you want for life - your ‘trust fund’

the white knight myth…

while i was busy bathing myself in fairy dust and listening to my Prince Charming croon his words of love, I missed out on nurturing my soul. I also lost some self-esteem and the opportunity to grow because i didn’t accept responsibility for a major part of my life. The woman who is totally dependant on a man when it comes to money, and ignorant of her financial life, is compromising true love and paralysing herself in the process.

other myths and mis conceptions…

  1. White Knight Myth - father/brother/husband/broker/planner/son/banker/cousin/uncle will take care on her finances
  2. Market savvy myth-need to become an expert before investing
  3. Myth of big bundle - need to have a lot of money to invest productively
  4. Credit card myth - need to pay off credit card debts before investing
  5. Social security/Pension myth - future is secured
  6. Tax myth - low tax when not working
  7. Feminity myth- gals cannot invest/manage finance/understand money

What truly gives you pleasure…

As you examine your spending habits, the operative wealth building question is:’What’s really going to add joy, peace and tranquility to my life, not just at the moment but down the road?’ The trick is to keep what gives you true pleasure and enhances your being, but spare back what gives you only a false sense of status. And lean to enjoy the possessions and activities that add a little spring to your stride for what they are and not for any prestige that may be attached to them. When this positive approach, you’ll free up yourself from the grip of consumerism and take charge of your financial life.


Stock represents a share of ownership in a company. Normally, a stock is traded on one of the following exchanges: NYSE, ASE, NASDAQ, PSE, OTC. … … …  Since a share of stock represents part ownership of a company, the prices of stock shares rise and fall depending on the earnings picture for the company.

Mutual Fund…

Mutual fund is a collection of stocks chosen by a fund manager who has developed a skill at buying and selling stocks. Mutual fund allows you to invest in the stock market without having to make individual buy-and-sell decisions; the fund manager does that for you. … Mutual funds are the best way for a beginning investor to tap into opportunities offered by the stock market… With a mutual fund, you’ll be more secure. After all, the fund is composed of many stocks that each perform differently. Some of the stocks will do better than others, but overall, the fund’s objective is to increase in value and grow your investment. … This chance to invest in many stocks, not just one, diversifies the dollars that you invest and in one of the major advantages of mutual fund.

Stock evaluation model:

  1. is it a quality company?
  2. what is the right price to buy this stock at?
  3. What is your subjective evaluation of the company?

Types of Financial Advocates:

brokers, financial planners, financial advisers, accountants.

A broker will receive a commission when you invest say in stocks or mutual funds. A financial adviser will change a fee on the total money in your account. Alternatively, a planner may charge a flat hourly fee to help you set up your investment plan.